§ Mr. EdwardsTo ask the Secretary of State for International Development what progress has been made in relieving the debts of Uganda owed to OECD countries. [57903]
§ Ms HewittI have been asked to reply.
On 24 April this year, Uganda became the first country to reach its completion point under the Heavily Indebted Poor Countries (HIPC) debt initiative. This last tranche of multilateral debt relief resulted in a further debt reduction of $347 million in NPV terms (approximately equivalent to $650 million in nominal terms), on top of previous concessional reschedulings and aid loan write offs.